Odyssey Re Holdings Corp. joined the Q3 loss parade with a reported net loss of $96.9 million, or $1.51 per diluted share, for the quarter ended September 30, 2005. The figure includes previously announced catastrophe losses from Hurricanes Katrina and …
The Bermuda-based PXRE Group Ltd. also fell victim to the third quarter disaster, posting a net loss of $317.3 million, compared to a net loss of $73.2 million in the third quarter of 2004, which wasn’t particularly favorable to the …
The Bermuda-based Arch Capital Group Ltd. has duly taken its turn at the hurricane whipping post, reporting a third quarter net loss of $86.3 million, or $1.15 per share â??on a pro forma basisâ?? (explained in a note). On a …
Southwest and South Florida are recovering, very slowly, from the after-effects of Hurricane Wilma, which crossed over Naples on Monday and then speedily traveled due east to Miami and South Florida. Margaret M. Weems, president of Weems Insurance of Naples …
Risk Management Solutions (RMS), Newark, Calif., has increased its estimate for U.S. insured losses from Hurricane Wilma to $8 billion to $12 billion. Its original estimate was $6 billion to $10 billion. The estimate includes onshore damage resulting from wind …
A Metropolitan Transportation Authority (MTA) bus driver has pleaded guilty to workers’ compensation insurance fraud after an investigation by the California Department of Insurance (CDI) Fraud Division. Renee Terri Henderson, 40, of Marina Del Rey, was found to have submitted …
Cherry Hill, NJ: The McIntyre Group announced today a new strategic partnership with Seattle-based, Robert Callard & Associates, LLC. The partnership enhances the international risk management skills of The McIntyre Group by adding the international insurance experience of Robert Callard …
North Dakota Insurance Commissioner Jim Poolman has issued a memorandum to property/casualty insurers writing business in the state stating companies using credit-based insurance scores in the underwriting and rating of business are “expected” to provide “adverse action” notification. In accordance …
The Port Authority of New York was negligent in the 1993 terrorist bombing of the World Trade Center and can be sued for damages. A State Supreme Court jury in Manhattan has decided that the Port Authority, which owned the …
The Chubb Group of Insurance Companies has collaborated with National Equipment Register (NER) to help deter heavy contractors equipment theft and increase the chances of recovering stolen equipment by offering its policyholders the option to register equipment with NER before …